Trading in Gránit Bank shares starts on Budapest Stock Exchange
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Trading in the shares of Gránit Bank has started on the Budapest Stock Exchange (BSE) on Monday.
Gránit Bank on BSE
Gránit Bank has completed the largest initial public offering in Hungary in the past 25 years, Éva Hegedűs, the bank’s CEO said on Monday after symbolically ringing the bell to start trading in the bank’s shares in the standard category of the Budapest Stock Exchange.
In the subscription period ended in mid-December, investors submitted bids for more than HUF 21bn of shares in the price range between HUF 13,172 and HUF 15,054 as against the original plan of a HUF 7bn minimum issue, Hegedűs said.
The company decided to issue 1,220,820 new ordinary shares with face value of HUF 1,000 and raised fresh funds of HUF 17.7bn.
Retail investors subscribed HUF 11.5bn worth of shares or 64.2pc of the total and institutional investors subscribed HUF 6.2bn or 35.2pc.
At the end of November, Gránit Bank managed more than 222,000 accounts, had deposits of more than HUF 1,114bn and lending stock of HUF 637.5bn. The bank’s market capitalisation is HUF 262.3bn and its shareholders’ equity is HUF 278.7bn.